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Conceptual Framework on Reward Systems in Organizations for Success and its Impacts: A Wide View

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Conceptual Framework on Reward Systems in Organizations for Success and its Impacts: A Wide View


Dr. G. Balamurugan | A. Princia

https://doi.org/10.31142/ijtsrd21445



Dr. G. Balamurugan | A. Princia "Conceptual Framework on Reward Systems in Organizations for Success and its Impacts: A Wide View" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-2, February 2019, pp.734-740, URL: https://www.ijtsrd.com/papers/ijtsrd21445.pdf

Organizations in both the public and indeed the private sector consider their employees as a critical asset in the organization towards the attainment of the organizational goals. As a consequence of competitive markets, technological advancements and globalization, organizations are facing challenges in retaining their human capital. In addition to the direct costs, the exit of employees also implies the loss of valuable intellectual capital and thus competitive advantage changed essential frame of reference for considering issues of human resource management. Traditional sources of success such as product and process technology, protected markets, economies of scale, etc. can still provide competitive leverage but an organization’s human resources are more vital for its sustainability. In order to retain its staff, organizations often focus on main retention strategy as rewards could be effective in reducing the risk of staff turnover in organizations through their relationship with effective commitment and motivation. Organizational reward systems play a critical role in enhancing employee satisfaction as the primary aim of the reward system is to enhance performance and extrinsic motivation by satisfying an individual employee’s needs. This study will have lots of contributions to the business world. Organizations may improve or change their reward systems to survive in today’s environment with the help of this study. They may renew their reward systems and put more efficient and effective ones.

Reward, Strategy, Performance, Satisfaction, Motivation, Commitment


IJTSRD21445
Volume-3 | Issue-2, February 2019
734-740
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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